The shaving pen market size is estimated to be US$ 1,256.30 million in 2024. Sales of shaving pens are expected to witness a CAGR of 6.7% from 2024 to 2034. By 2034, the precision shaving pen market is anticipated to reach a valuation of US$ 2,413.20 million.
Dynamic Forces Behind Shaving Pen Market Expansion
- People are becoming conscious of their appearance standards of personal grooming. This trend is largely driving the demand for shaving pens.
- Consumer preferences for advanced grooming products are influenced by fashion and trends, which positively affects the shaving pen market.
- Developments aid the creation of effective and user-friendly shaving pens in design and technology. Products with cutting-edge features draw in more customers, which boosts men’s grooming accessories demand.
- Demand for facial hair grooming accessories is driven by urbanization and lifestyle shifts, typified by hectic schedules and a greater emphasis on self-care.
- Shaving pens have become more accessible because of the growing trends of men’s skincare products on eCommerce platforms. The ease of purchasing products online and a wide range of options support market expansion.
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Hurdles in the Shaving Pen Industry
- Disposable shaving pens may have adverse environmental effects. Customers may be reluctant to embrace products that produce a lot of waste as sustainability becomes more and more of an issue. This hinders the surging demand for men’s grooming products.
- Compared to conventional shaving techniques, shaving pens may seem more costly, inhibiting the shaving pen market growth. It could be difficult to persuade customers of the long-term benefits.
Regional Assessment of the Shaving Pen Industry
- Personal care and grooming products are becoming more popular, and the growing culture of grooming positively influences the opportunities for shaving pens in Asia Pacific.
- The Asia Pacific is a growing market for beard grooming products resulting from rising disposable income and urbanization.
- A desire for easy-to-use, mobile grooming products that fit busy lifestyles is propelling the facial hair grooming accessories market in North America.
- The growing demand for sustainable and innovative shaving solutions impacts North America’s market dynamics.
- Premium and luxury grooming products dominate the European market, which indicates that sophisticated consumer preferences surged due to innovations in shaving tools.
- Focusing on personal hygiene and growing awareness of precision grooming with shaving pens stimulates demand in various European markets.
Key Takeaways
- The stainless steel segment is estimated to hold 41.7% of the market revenue.
- The hairstyling segment is anticipated to hold a 32.5% market share.
- The United States shaving pen demand is anticipated to surge at a CAGR of 5.4% through 2024.
- The Canada shaving pen industry is expected to accelerate at a CAGR of 9.7% from 2024 to 2034.
- Germany’s precision grooming tools market is expected to develop at a CAGR of 6.1% through 2024.
- Sales of shaving pens in France are projected to accelerate at a CAGR of 8.5% from 2024 to 2034.
- The shaving pen demand in the United Kingdom is expected to expand at a CAGR of 6.5% from 2024 to 2034.
- The Italy shaving pen industry to record a CAGR of 9% through 2024.
- The Spain shaving pen market is expected to grow at a CAGR of 10.4% from 2024 to 2034.
- China shaving pen sales are expected to surge at a CAGR of 6.6% until 2034.
- India’s shaving pen market is anticipated to boost at a CAGR of 11.7% through 2024.
- Singapore precision grooming tools market to soar at a CAGR of 10% over the forecast period.
- Australia’s shaving pen demand is expected to register a CAGR of 10.9% through 2024.
- Shaving pen sales in Japan are expected to exhibit a CAGR of 7.2% over the projected period.
Competitive Landscape
Market consolidation results from a limited number of established players and local shaving pen manufacturers. To increase market share, the leading manufacturers of precision grooming tools are concentrating on bold marketing campaigns, commercials, and the introduction of new products. A few key players of facial hair removal products are starting campaigns to remain competitive.
Latest Advancements
- The Bombay Shaving Company started a shave for good grooming campaign in December 2021. To give people who would not usually have access to top-notch grooming services free makeovers, the brand has brought its mobile salons to unexpected places in Delhi/NCR, far from posh malls and other typical premium establishments.
- Nykaa has launched a new product named LetsShave Beard Pen Styler & Trimmer for Men. This product is affordable and makes personal grooming gentle and simple.
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Key Segments
By Material Type:
- Stainless steel
- Plastic
- Others (Copper, metal)
By Application:
- Hairstyling
- Eyebrow styling
- Tattooing
- Beard styling
By End User:
- Retail
- Commercial
- Fashion Industry
- Salon & Spa
By Distribution Channel:
- Direct
- Indirect
- Hypermarket/Supermarket
- Specialty Stores
- Independent Stores
- Online Store
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East Asia
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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